It opens today.
The Singapore stock market opened higher on Tuesday as investors continued to be bullish on the strong economic recovery brought about by the gradual improvement in COVID-19 's epidemic.
As of 9.02 a.m.$FTSE Singapore Strait Index (.STI.SG) $Rose 25.85 points, or 0.8 per cent, to 3097.01.
Analyst point of view
The US Nasdaq index, which leads the global trend of technology stocks, has fallen nearly 12 per cent from its highest point this year. Wang Binni, head of technical analysis and training at TerraSeeds, does not rule out the possibility of further decline, which could even reach 30 per cent, but she stresses that this is very different from the panic sell-off in March last year and is a "planned" stable correction against the backdrop of economic improvement.
Yang Yan, a strategist at DailyFX, pointed out in an interview with Lianhe Zaobao that due to the lack of technology stocks in the local stock market, it was not dragged down by the sell-off of technology stocks. In addition, the outstanding performance of individual components of the sea index yesterday was an important factor in promoting the local stock market to outperform the market.
Hot spot of stock market
$Jardine ClearC (C07.SG) $Jardine Matheson announced its purchase of a 15 per cent stake in Jardine Strategic before the opening of the market on Monday, as a result, two constituent stocks soared 15.48 per cent and 19.49 per cent yesterday, leading to a rise of more than 40 points in the sea index.
$FRASERS PROPERTY LIMITED (TQ5.SG) $Frasers Property's RMB1.28 billion additional share placement plan has the support of two major shareholders. The Group hopes to strengthen its investment in industry, logistics and business parks and seize the business opportunities brought about by the epidemic.
Ryde, a local private car-hailing company, plans to list on the Kelly board of the Singapore Stock Exchange next year, with an estimated $200m IPO.
Comment on the classics of shares
Suggestion: buy
Target price: 0.46 yuan
Source: DBS Group Research
Important data of the week
The US consumer price index (CPI) for February will be released tomorrow, and the market is expected to expand to 1.7 per cent from 1.4 per cent in January, while core inflation remains at 1.4 per cent.